Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1 ) A person contravenes this regulation if:
(a) the person holds a controlled asset; and
( b ) the person:
(i) use s or deal with the asset; or
( ii ) allow s the asset to be used or dealt with; or
( iii ) facilitate s the use of the asset or the dealing with the asset.
(2) Section 15.1 of the Criminal Code applies to an offence under section 27 of the Act that relates to a contravention of subregulation (1).
Note 1 Subregulation (2) has the effect that the offence has extraterritorial operation.
Note 2 Th is regulation is a UN sanction enforcement law as specified by the Minister under the Charter of the United Nations (UN S anction E nforcement L aw) Declaration 2008 .